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29-06-14

Saudi Alhokair completes USD133m sukuk issue

(MENAFN) Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co. said it has completed a five-year sukuk issue worth USD133 million, according to Arab News. Alhokair, which franchises brands such as Zara and Marks and Spencer in the Kingdom, did mention the pricing of the sukuk. The company said that the sukuk was sold in a private placement to investors in Saudi Arabia. The company intended to sign an agreement with a group of banks for a loan worth USD 261 million to repay existing loans and finance expansion.